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Property profile & analytics
OFF-MARKET
Estimated value
$1,015,000
Garden apartment buildings
241 Yellow Spgs St, Springfield, OH 45506-1500
Entity Owned
Free & Clear
Property ID
US66-2572294
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1971
Total area
18,228 SF
Lot
0.35 ac (15,333 SF)
APN
340-06-00004-214-034
UPID
US66-2572294
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$825k
Comparable Approach
Comparable
$1.39M
Blend (final)
Blend
$1.02M
Owner & transaction history
SPRINGFIELD METROPOLITAN HOUSING AUTHORITY
SPRINGFIELD METROPOLITAN HOUSING AUTHORITY
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+45.8%
Medical building
$1.4M
+32.6%
Auto repair, garage
$1.4M
+29.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Springfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Springfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$895,000
6.5%
$825,000
7%
$765,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,045,000
Current use
OFFICE BUILDING
$1,520,000
Change: +46% · Conversion: Moderate
MEDICAL BUILDING
$1,385,000
Change: +33% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,355,000
Change: +30% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,140,000
Change: +9% · Conversion: Moderate
RETAIL STORES
$1,140,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$56 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Assessed value
$268,960
Assessed 2023
Previous assessed
$268,960
+0.0% YoY
Assessed land
$6,440
Assessed improvement
$262,520
Land market value
$18,400
Improvement market value
$750,070
Total market value
$768,470
Applied tax rate
340.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1971
Heating
NONE
Stories
2
Units
24
Total area
18,228 SF
Lot
0.35 ac (15,333 SF)
APN
340-06-00004-214-034
UPID
US66-2572294
Jurisdiction
CLARK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.0M
OFFICE BUILDING
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1971
Heating
NONE
Stories
2
Units
24
Lot
0.35 ac
Current owner
From public records · entity-resolved
SPRINGFIELD METROPOLITAN HOUSING AUTHORITY
Individual
Free & Clear · 0 yrs held
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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